MLchartDataset catalogue

Claim expense

Term · Insurance and risk management · MLC-T-INS-000757

The costs an insurer incurs to investigate, evaluate, negotiate, and settle a specific claim, separate from the actual indemnity payment to the policyholder. These expenses are categorized as either allocated loss adjustment expenses (ALAE), which are tied to a specific claim, or unallocated loss adjustment expenses (ULAE), which are general overhead costs. Claim expenses include fees for attorneys, expert witnesses, investigators, and claims adjusters' salaries.

Table 1. Record
IdentifierMLC-T-INS-000757
FieldInsurance and risk management
Record as JSON 
{
  "id": "MLC-T-INS-000757",
  "term": "Claim expense",
  "field": "Insurance and risk management",
  "definition": "The costs an insurer incurs to investigate, evaluate, negotiate, and settle a specific claim, separate from the actual indemnity payment to the policyholder. These expenses are categorized as either allocated loss adjustment expenses (ALAE), which are tied to a specific claim, or unallocated loss adjustment expenses (ULAE), which are general overhead costs. Claim expenses include fees for attorneys, expert witnesses, investigators, and claims adjusters' salaries.",
  "url": "https://mlchart.com/terminology/insurance/claim-expense/"
}

Record 533 of 3,708 in Insurance and risk management terminology (MLC-0106). Request the full dataset.